Gemological Science International added to list of notified laboratories for duty exemption on imported diamonds

The Notification No. 29/2023-Customs dated 3rd April 2023 is a further amendment to Notification No. 40/2015-Customs, dated 21st July 2015. The earlier notification had exempted cut and polished diamonds under Chapter 71, when imported for grading or certification and re-export out of India by certain notified laboratories and agencies from the whole of the customs duty and integrated tax leviable on it. The present notification adds Gemological Science International Pvt. Ltd., Mumbai, Maharashtra, to the list of notified laboratories and agencies eligible for this exemption. The exemption is subject to certain conditions mentioned in the notification.
See Notification No. 29-Customs. dated 03.04.2023